Saudi Arabia Commercial Vehicles Market By Vehicle Type (Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle), By Propulsion (ICE Vehicle, Electric Vehicle), By Region, Competition, Forecast & Opportunities, 2018 – 2028

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Summary

Report Description

The Saudi Arabia Commercial Vehicle Market experiencing significant expansion as demand has increased in recent years. Commercial vehicles are utilized for the transportation of passengers and commodities. One of the major forces behind a nation's economic progress is the automotive industry. Saudi Arabia is one of the richest nations in the world and the biggest Middle Eastern producer of automobile components. Nearly half of the vehicles sold in that region are from Saudi Arabia. The Saudi Arabian commercial vehicle market is primarily influenced by the expansion of the logistics sector and the number of ongoing infrastructure projects. Furthermore, it is expected that demand will continue to rise as economies recover from global pandemic and international trade activities increase, thereby driving market growth during the forecast period. 

The economic collapse in 2020 caused numerous setbacks for the global automotive sector, and the Saudi Arabian automotive industry also suffered. During the first quarter of 2020, the nation's total exports were USD 57.61 billion (SAR 216.1 billion), down 21.9% from Q1 2019. Additionally, the manufacturing sector's gross domestic product (GDP) declined by 12% in 2020 as compared to the year 2019. Sales in the automotive sector fell as a result of slower economic growth. Furthermore, in the post pandemic year, the General Authority of Statistics in Saudi Arabia reported that 2.9% more vehicles were imported into the Kingdom in 2021 than in 2020. With the inclusion of electric commercial vehicles, the market is likely to grow during the forecast period.

Growing automotive industry

In 2020, Saudi Arabia had accounted for over 52% of the vehicles sold in the GCC and 35% in the MENA region. Although the total number of automobiles sold in Saudi Arabia dropped in 2020, it recovered swiftly in 2021 and 2022. Saudi Arabia's automotive sector is primarily supported by the import of automobiles by international OEMs from the United States, Japan, South Korea, Germany, China, and India. Japan, which is home to Toyota, is the largest importer of vehicles into Saudi Arabia, accounting for nearly 30% of all vehicle sales. Thus, the demand for commercial vehicle market is anticipated to fuel the market expansion.

Increasing Logistic Activities in The Region

The growth of the logistics and transportation industries is also greatly aided by digital transformation and e-commerce platforms. The demand for commercial vehicles rises as road transportation, industrialization, and tourism develops. Saudi Arabia is developing 19 logistics service areas worth nearly 29 billion Saudi riyals (USD 7.7 billion) in investment value, according to the country’s Transport and Logistics Services. According to a 2022 report from the Saudi financial news portal Argaam, as part of its expansion strategy for aviation, sea, and land transportation, Saudi Arabia is planning to establish 59 logistics zones. In consequence, the demand for commercial vehicles is anticipated to increase in the years to come due to the developments mentioned above.

Increase in Production Capacity

Saudi Arabia is a significant consumer of trucks and cars, all of which are majorly imported. This raises the vehicle's associated cost. Further, due to the pandemic, many nations suspended their import and export operations, which reduced Saudi Arabia's sales of commercial automobiles. Ultimately, the delay in numerous development projects caused Saudi Arabia’s commercial vehicle market growth to slow down. To close the gap between supply and demand, Saudi Arabia is planning to produce more than 300,000 vehicles between 2020 and 2030. The country's automotive eco-system is also expected to achieve at least 40% Local Gross Value Add (LGVA). Owing to the aforementioned factors, the Saudi Arabian commercial vehicle market is anticipated to register a a notable growth rate during the forecast period.


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Market Segmentation

The Saudi Arabia commercial vehicle market is segmented on the basis of vehicle type, propulsion, and region. On the basis of vehicle type, the market is further segmented into light commercial vehicle, medium commercial vehicle, heavy commercial vehicle, and bus. Furthermore, light commercial vehicle market is segmented on the basis of vehicle segment (pickup truck & van, light duty truck), by application (logistics, transportation & tourism, construction), propulsion (ice vehicle, electric vehicle). Medium commercial vehicle market is segmented on the basis of vehicle segment (GVW 10-16 ton, GVW 16-20 ton), by application (construction, logistics and others), by propulsion (ICE vehicle, electric vehicle). Heavy commercial vehicle market is segmented by vehicle segment (GVW 20-30 Ton, GVW 30-40 Ton, GVW >40 Ton), by application (construction, logistics and others), and by propulsion (ICE vehicle, electric vehicle). Bus market is segmented on the basis vehicle segment (< 33 Seats, > 33 Seats), by application (staff transportation, school & university transportation, tourism/pilgrimage services), and propulsion (ICE vehicle, electric vehicle). On the basis of region, the market is divided into Northern & Central, Southern, Eastern, and Western.

Company Profiles

Toyota Motors Corporation, Isuzu Motors, Saudi Arabia Company Limited, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Limited, Ford Motor Company, Hyundai Motor Company, MAN Truck and Bus Middle East, Volvo Trucks Corporation, Volvo Bus Mercedes-Benz KSA Commercial Vehicles, Ashok Leyland, Tata Motors Limited are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, Volume in Thousand Units, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Vehicle Type

By Propulsion

Region

Key Companies Profiled

Toyota Motors Corporation, Isuzu Motors Saudi Arabia Company Limited, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Limited, Ford Motor Company, Hyundai Motor Company, MAN Truck and Bus Middle East, Volvo Trucks Corporation, Volvo Bus Mercedes-Benz KSA Commercial Vehicles, Ashok Leyland, Tata Motors Limited

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Saudi Arabia commercial vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

             ·          Saudi Arabia Commercial Vehicle Market, By Vehicle Type:

    • Light Commercial Vehicle Market
      • By Vehicle Segment
        • Pickup Truck & Van
        • Light Duty Truck
      • By Application
        • Logistics
        • Transportation & Tourism
        • Construction
      • By propulsion
        • ICE Vehicle
        • Electric Vehicle
    • Medium Commercial Vehicle Market
      • By Vehicle Segment
        • GVW 10-16 Ton
        • GVW 16-20 Ton
      • By Application
        • Construction
        • Logistics and Others
      • By propulsion
        • ICE Vehicle
        • Electric Vehicle
    • Heavy Commercial Vehicle Market
      • By Vehicle Segment
        • GVW 20-30 Ton
        • GVW 30-40 Ton
        • GVW >40 Ton
      • By Application
        • Construction
        • Logistics and Others
      • By propulsion
        • ICE Vehicle
        • Electric Vehicle

             ·    Saudi Arabia Commercial Vehicle Market, By Propulsion:

    • ICE Vehicle
    • Electric Vehicle
  • Saudi Arabia Commercial Vehicle Market, By Region:
    • Northern & Central
    • Southern
    • Eastern
    • Western

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Commercial Vehicle Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Saudi Arabia Commercial Vehicles Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Saudi Arabia Commercial Vehicle Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Awareness

5.3.  Brand Satisfaction Level

6.    Saudi Arabia Commercial Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume

6.1.2.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type Market Share Analysis (Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle)

6.2.2.     By Propulsion Market Share Analysis (ICE Vehicle, Electric Vehicle)

6.2.3.     By Regional Market Share Analysis

6.2.4.     By Company Market Share Analysis (By Value, 2022)

6.3.  Global Commercial Vehicle Market Mapping & Opportunity

6.3.1.     By Vehicle Type Market Mapping & Opportunity Assessment

6.3.2.     By Propulsion Market Mapping & Opportunity Assessment

6.3.3.     By Regional Market Mapping & Opportunity Assessment

7.    Saudi Arabia Light Commercial Vehicle Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Volume

7.1.2.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type Market Share Analysis (Pickup Truck & Van, Light Duty Truck)

7.2.2.     By Application Market Share Analysis (Logistics, Transportation & Tourism, Construction)

7.2.3.     By Propulsion Market Share Analysis

8.    Saudi Arabia Medium Commercial Vehicle Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Volume

8.1.2.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type Market Share Analysis (GVW 10-16 Ton, GVW 16-20 Ton)

8.2.2.     By Application Market Share Analysis (Construction, Logistics and Others)

8.2.3.     By Propulsion Market Share Analysis

9.    Saudi Arabia Heavy Commercial Vehicle Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Volume

9.1.2.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type Market Share Analysis (GVW 20-30 Ton, GVW 30-40 Ton, GVW >40 Ton)

9.2.2.     By Application Market Share Analysis (Construction, Logistics and Others)

9.2.3.     By Propulsion Market Share Analysis

10.  Market Dynamics

10.1.              Market Drivers

10.2.              Market Challenges

11.  Market Trends and Developments

12.  Porter’s Five Forces Model

12.1.              Competitive Rivalry

12.2.              Bargaining Powers of Suppliers

12.3.              Bargaining Powers of Buyers

12.4.              Threat of New Entrants

12.5.              Threat of Substitutes

13.  SWOT Analysis

13.1.              Strength

13.2.              Weakness

13.3.              Opportunities

13.4.              Threats

14.  Policy & Regulatory Landscape

15.  Supply Chain Analysis

16.  Saudi Arabia Economic Profile

17.  Competitive Landscape

17.1.              Company Profiles

17.1.1.  Toyota Motors Corporation

17.1.1.1.      Company Details

17.1.1.2.      Products & Services

17.1.1.3.      Recent Development

17.1.1.4.      Key Management Personnel

17.1.2.  Isuzu Motors Saudi Arabia Company Limited

17.1.2.1.      Company Details

17.1.2.2.      Products & Services

17.1.2.3.      Recent Development

17.1.2.4.      Key Management Personnel

17.1.3.  Mitsubishi Fuso Truck and Bus Corporation

17.1.3.1.      Company Details

17.1.3.2.      Products & Services

17.1.3.3.      Recent Development

17.1.3.4.      Key Management Personnel

17.1.4.  Hino Motors Limited

17.1.4.1.      Company Details

17.1.4.2.      Products & Services

17.1.4.3.      Recent Development

17.1.4.4.      Key Management Personnel

17.1.5.  Ford Motor Company

17.1.5.1.      Company Details

17.1.5.2.      Products & Services

17.1.5.3.      Recent Development

17.1.5.4.      Key Management Personnel

17.1.6.  Hyundai Motor Company

17.1.6.1.      Company Details

17.1.6.2.      Products & Services

17.1.6.3.      Recent Development

17.1.6.4.      Key Management Personnel

17.1.7.  MAN Truck and Bus Middle East

17.1.7.1.      Company Details

17.1.7.2.      Products & Services

17.1.7.3.      Recent Development

17.1.7.4.      Key Management Personnel

17.1.8.  Volvo Trucks Corporation and Volvo Bus

17.1.8.1.      Company Details

17.1.8.2.      Products & Services

17.1.8.3.      Recent Development

17.1.8.4.      Key Management Personnel

17.1.9.  Mercedes-Benz KSA Commercial Vehicles

17.1.9.1.      Company Details

17.1.9.2.      Products & Services

17.1.9.3.      Recent Development

17.1.9.4.      Key Management Personnel

17.1.10.                Ashok Leyland

17.1.10.1.    Company Details

17.1.10.2.    Products & Services

17.1.10.3.    Recent Development

17.1.10.4.    Key Management Personnel

17.1.11.                Tata Motors Limited

17.1.11.1.    Company Details

17.1.11.2.    Products & Services

17.1.11.3.    Recent Development

17.1.11.4.    Key Management Personnel

18.  Strategic Recommendations

18.1.              Key Focus Areas

18.2.              Target Regions

18.3.              Target Vehicle Type

19.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Increasing demand for tourism sector and rising logistics industry is driving the Saudi Arabia Commercial Vehicle Market.

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With increasing development projects Saudi Arabia Commercial Vehicle Market has potential to register a high CAGR during the forecast period.

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The major players in the Saudi Arabia Commercial Vehicle Market are Toyota Motors Corporation, Isuzu Motors Saudi Arabia Company Limited, MAN Truck and Bus Middle East, Volvo Trucks Corporation, etc.

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Saudi Arabia Commercial Vehicle Market is segmented into vehicle type, propulsion and by region.

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Sakshi Bajaal

Principal Consultant
Press Release

Saudi Arabia Commercial Vehicle Market is anticipated to register a CAGR of 5% During the Forecast Period

Apr, 2023

Rapid increase in development projects and increasing trend toward adoption of electric vehicles is expected to drive the growth of Saudi Arabia commercial vehicle market during the forecast period,

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